Deals this week: JR Shipping, Summit LNG, MS Cardiff Gas, Deltamarin, Vard

12 January 2018 (Last Updated January 12th, 2018 10:48)

JR Shipping Group has entered a refinancing agreement with a credit investment fund based in the UK.

JR Shipping Group has entered a refinancing agreement with a credit investment fund based in the UK.

The arrangement will see the refinancing of the JR Fleet Fund CV, which was previously responsible for funding JR Shipping’s 11 container feeders.

The financier has taken over more than €126m ($151m) of debt from German HSH Nordbank on behalf of the JR Fleet Fund CV, and the latest deal has allowed the shipping company to retain control of the 11 major vessels in its fleet.

JR Fleet Fund CV was initially established as part of a restructuring operation by a partnership between HSH Nordbank, JR Shipping Group and its CV partners in 2012.

Summit LNG Terminal has entered a 15-year contract with PSA Marine Bangladesh for the provision of vessel support services at an LNG terminal in Bangladesh.

The contract will see PSA Marine offer berthing, mooring, pilot and personnel transfer services for LNG ships calling at Summit LNG floating storage and regasification unit (FSRU) terminal.

"TMS Cardiff Gas has contracted Hyundai Heavy Industries (HHI) for the construction of a new liquefied natural gas (LNG) carrier by 2020."

The floating LNG terminal is being developed by Summit LNG under a concession contract from Petrobangla.

It is expected to supply approximately 500 million cubic feet a day of natural gas to Bangladesh’s national grid.

Summit LNG is a subsidiary of Singapore-based company Summit Power International.

TMS Cardiff Gas has contracted Hyundai Heavy Industries (HHI) for the construction of a new liquefied natural gas (LNG) carrier by 2020.

HHI will build a 174,000m³ carrier ship as part of the arrangement, which is set to feature XDF propulsion.

The vessel is slated to be operated by Total Gas & Power Chartering on a seven-year charter upon completion.

TMS Cardiff Gas is a shipping company based in Greece.

Deltamarin has partnered with Gaztransport & Technigaz (GTT) to develop solutions for LNG-fuelled vessels operating on long ocean voyages.

The partnership intends to design vessels with LNG tanks that require less cargo space compared to cylindrical-type LNG tank solutions in order to enable ships with different tank sizes to offer the same fuel capacity in a smaller area.

Vard has been contracted by Boreal to build a 74m-long fully electrical battery-powered car and passenger ferry.

The vessel has been designed by Multi Maritime and will be capable of accommodating up to 60 cars, as well as 199 passengers and crew members.

Its hull is set to be built by Braila in Romania.

The vessel is scheduled to be begin operations from January 2020.